Project: P.E.G.A.S.U.S. "Potential Energy Group/Alternate Sources/United States" was founded with the idea of researching alternate forms of renewable energy. Headed by Dr. Myron Wilburn, it quickly found itself at the center of much unwanted attention when the structure came to house a Cosmic Cube, a Nth Projector, and the Serpent Crown and several other artifacts of great power. Soon the Project also began testing on metahuman specimens, mostly career criminals, but others, such as Aquarian and Dazzler were also tested extensively, yet humanely.

The Project became little better than a prison to many of the specimens such as, Klaw, Solaar, and Nuklo, and as such they sought escape.

About this time, Quasar was offered the position of Head of Security, based on his service record with the army, SHIELD, and a recommendation from Captain America. He served in this role admirably for several months, with the Thing's help he, along with Thundra, Goliath, and Aquarian saved the world and potentially the universe from Dr. Thomas Lightner, who had turned himself into a living singularity, calling himself the Nth Man.

Months later, the entire Project was taken over by the Serpent Crown. Only the intervention of several outsiders averted a complete disaster. Quasar blamed himself and tendered his resignation. He was soon replaced by Blue Shield, who continues as Security Head to this day.

Recently, when the Squadron Supreme was exiled from their universe by Dr. Lightner, they made the Project their temporary home.